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people that we can still do big things and so he will make the case to congressional leaders that we must reject the politics of least resistance and take on this critical challenge. joining us now is the senate's top republican who will be a key participant in today's talks. senator mitch mcconnell. welcome back to "fox news sunday." >> glad to be here. >> let's start with what happened and from your perspective, where do things stand now ahead of this meeting tonight at the white house. >> well, unfortunately, as the speaker said, they are insisting on the white house and congressional democrats, insisting on really big tax increases as a condition to do anything on the spending side. bret, we believe the president was right back in december when he signed a two-year extension of the current tax rates of raising taxes in the middle of this economic situation we're in is a terrible idea. i mean, just look at the unemployment figures last friday. all the arguments the president used in december still work today. there's an additional issue in addition to the unemployment at work here, it
the table. >> to get a big package would require a big tax increase in the middle of the economic situation that's extraordinarily difficult with 9.2% unemployment. it's a terrible idea. it's a job-killer. >> reporter: on sin's "meet the press," treasury secretary tim geithner said failing to reach a deal would be catastrophic. >> we need to do something substantial to bring our long term deficit down over time. >> reporter: the stakes high as the two sides try again today. so, the president will be answering questions at a press conference scheduled for 11 a.m. eastern time this morning. he'll then meet with congressional leaders this afternoon. he's asked republicans to bring specifics for their plan. >> thanks so much. a reminder for you, we'll have live coverage of the president's news conference beginning at 11 a.m. eastern time right here on msnbc. the place for politics. >>> officials at nasa are closely monitoring a piece of so-called space junk, which is on a potential collision course with the space shuttle "atlantis" and the international space station. nasa estimates that the ob
, no. now's the time to go big. get thing done for good. here he was, the president just this morning. >> i will not sign a 30 day or a 60 day or a 90-day extension. that's not an septemberabaccept approach. if it's hard now, how are the guys going to be thinking six months from now in the middle of an election season when they're all up. it's not going to get easier, it's going to get harder. we might as well do it now. pull off the band aid, eat our peas. now's the time to do it. if not now, when? >> brianna at the white house. bring us up to date. are the high stakes talks happening right this very second? >> as we understand it, brooke, these meetings continue here at the white house. president obama with top democrats and republicans in congress. you heard the tone that the president was striking there, like a parent trying to get two kids to share. he's been saying he's bending over backwards, giving up a lot and republicans are not. of course, that is his side of the story. if you were to think of him, he has a favorite child in all of this, right? the democrats. that's his par
economic soundness to this country. that take as big deal. a lot of pain. democrats are upset the president talked about pain on their side of the ail and republicans are saying no way will we give tax relief to middle income americans. they want to continue tax relief to the wealthy. everyone agrees a number around $4 trillion will make a serious debt on our deficit. it will send a statement to the world that the u.s. has gotten ahold of their fiscal problems and they are moving forward. it will give confidence to the american people that we can move forward to bring economic soundness. that's the president's commitment. >> 6:00 on the east coast. welcome to "morning joe." look at that nice live look at times square. joe is looking spify today. he went shopping. it is monday, july 11th. >> i don't know what that means. >> we have msnbc -- well, yes. this is unusual. we have msnbc contributor mike barnicle, john heilemann. what's so funny? >> yeah, what's so funny? i don't get it. he's back. >> we can't get him to leave. we have "morning joe" economic analyst steve rattner and in washington
from a year ago. jpmorgan chase will be the first of the big banks to report on thursday. results from top tech player google are also expected thursday. also this week, investors will eye fresh economic data, starting with may's trade deficit on tuesday. also tuesday, minutes from the federal reserve's june meeting. wednesday, fed chairman ben bernanke delivers his biannual testimony to congress. >>> retail sales and june's producer price index comes out thursday. and june's consumer price index is released friday. >>> elsewhere, precision cast parts says it has agreed to buy primus international for $900 million in cash. >>> reuters reports there's an emergency meeting in europe this morning over the debt crisis. they're now possibly spreading to italy. the region's third largest economy. friday italian stocks and bonds tumbled in a massive sell-off. >>> and finally, according to a new survey of college students and graduates, health insurance is the new love potion. 90% of surveyed students, and 93% of recent grads said knowing a potential partner has health insurance would make him
and the speaker is that to get a big package would require big tax increases in the middle of an economic situation that's extraordinarily difficult with 9.2% unemployment. we think it's a terrible idea. it's a job killer. >> reporter: aides say house speaker john boehner called president obama saturday night and told him republicans would push for a smaller debt deal, just enough to cut about $2 trillion over 10 years and increase the debt ceiling by about that much. republicans say democrats' insistence on tax increases have forced them to call for a smaller deal. the administration calls that strategy insufficient. >> we need to do something very substantial to bring our long term deficits down over time in a way that's good for the economy so we give more support to the economy still healing. >> reporter: even if these negotiators strike a deal, they still have to sell it. democrats and republicans are pushing their leaders to stand their ground. rich edson, fox business. >> joining me now with more on the progress of these debt negotiations, maryland congressman chris van holland who
a big clean up to do. a fire broke out at daly city's skyline elementary school on christian avenue. this happened about 11:30 last night. just look at the pictures. the portable classroom went up in flames. the damage includes the building itself, everything inside, books, chairs, audio- visual equipment. took firefighters about 15 minutes to put it out. authorities don't know what started the fire but it apparently started outside of the portable building. no word of any injuries and students by the way return to school on august 17th. >>> meantime firefighters say an overnight house fire in san francisco caused about $350,000 damage. this fire started just before 2:30 this morning at a home on melrose avenue. the flames then spread to a second house. took firefighters about 20 minutes to contain that one alarm fire. no injuries have been reported. authorities think the fire started in the living room of the first house, but the cause of the fire is still under investigation. >>> the book written by kidnap victim jaycee dugard does not go on sale for another day but it is already
for john boehner, i think boehner was exactly right, his instincts were let's get a big deal, the problem is he couldn't sell it to his caucus dominated by tea party who consider themselves patriots, but this -- >> six months ago you heard bill talking about it with stuart varney, said we shouldn't be raising taxes in a down economy. andrea. >> he's absolutely right. these crazy tea partiers that bob loves to blast every chance he gets have the same position that president obama essentially had in 2006 when he said we shouldn't vote to raise the debt ceiling and if we did it would be irresponsible so the president, big political issues on the line but i agree with bob in one respect, john boehner has real trouble within his conference. there are members of the gop caucus that have come out and said we're not voting for any kind of deal as long as it includes raising the debt ceiling so boehner does have to work with democrats. big challenges on both sides. heather: democrats bob certainly have a problem, a lot of them are saying no cuts to social security, no cuts to medicare, no cuts to
and increase the nations borrowing limit. >> everything they have told me and the speaker is to get a big package would require big tax increases in the middle of an economic situation extraordinarily difficult 9.2% unemployment. it is a job killer. >> we need to do something very big, substantial to bring long term debt down overtime we have to do that in a way that is good for the economy. >> reporter: of course there is a difference in opinion what is exactly good for the economy, house speaker john boehner said look the republicans are not going to agree on any package that includes any increases in taxes therefore the republican package is $2 trillion where as the deal the president has been pushing is a $4 trillion deal we should learn more at the press conference scheduled here at the white house 11:00 a.m. >>> three small planes in three separate incidents had to be intercepted by fighter jets this weekend each plane flew too close to camp david. the first around noon saturday another later that night the third happened late yesterday morning in every case the planes landed withou
, welcome to "the early show" here on a monday morning. i'm chris wragge. >> and i'm erica hill. >> big sports news this weekend. >> huge. >> you had to seeing it, everybody is talking about it. women's world cup soccer, after one of the most thrilling girls in the history of soccer, penalty kicks, ally krieger. tied up. everyone saying lights out, it's over, they're going over. they tie it up, shoot-out they take it 5-2 over brazil and now in the semifinals. >> they're going to meet france on twewednesday. just fantastic to watch. i love watching the players, how excited they are. brazil no joke when it comes to soccer. >> 12 years to the day after brandy chastain the shirt -- you remember that. >> i do. i do. >>> first we want to touch on yes, the debt ceiling. starting to sound like a broken record. the deadline is looming for raising the debt ceiling. there were more talks at the white house on sunday. still no resolution. president obama told lawmakers be prepared to meet again today and every day until a deal is reached. cbs news senior white house correspondent bill plante has th
was just a time- passer and he wasn't even a big enough presence for the obama administration to fight for him to be their secretary of health and human services. i don't necessarily mean it as an insult to him or to the senate but let's face it, most of our elected officials even in the world's greatest deliberative chamber are interchangeable. >> you wrote this. "in a world where our choices aren't limited to john boehner and nancy pelosi, the survivors envy the dead." >> yes, i think that's true. >> and explain that? >> what "the declaration of independents" is about is how throughout virtually every aspect of our lives we are seeing greater individualization, personalization, the ability to mongrelize and hybridize our lives and our enjoyments and our very identities, and yet in politics we are still stuck between dr. jekyll and mr. hyde it's the wolf man versus frankenstein. who is really going to get fired up over nancy pelosi on the one hand or john boehner on the other. they are proxies or short-hands for the incredibly narrow range of choice that we actually have in elected of
september 12th of this year. with big crowds expected, reservations are needed. you can do it online. >>> nasa wants to remind us the heads up on the low-flying air pollution monitoring flights. there will be a few between the beltway and baltimore. expect to see the planes flying low between 11:00 a.m. and 7:00 p.m. >> also today, we expect to hear from president obama on the tense negotiations over the federal debt ceiling. >> the clock is ticking and bipartisan talks this weekend ended with no deal. >> surae chinn is live on capitol hill with an important story that affects every single one of us. surae? >> well, andrea, mike, the deadline is looming. anxiety on capitol hill. anxiety at the white house. the president will be speaking later on today at a press conference this morning. late last night at the white house, the president met with congressional leaders to hammer out a deal to lower the nation's deficit. they met for about an hour and a half. the president trying to push his plan to raise the $14.3 trillion and cut $4 trillion in spending in cuts to healthcare and social
, hi, there, thomas. it seemed like forget hope for getting a big deal done in the arena of $4 tril john lion in tt decade was dwindling, but republicans would not accept a deal that big and they wanted $2 trillion over the next decade, but as you mentioned president obama came out today swinging, upping the ante saying he does indeed want a big deal done and if not now, when? and he essentially tried to assume the position of the adult in the room calling on the lawmakers to rip off the band-aids and eat the peas and call to action for democrats and republicans and calling the democrats to come to the table for entitlement reforms, and the republicans for rolling back the tax breaks for wealthy americans and big corporations, and it seemed like at the last of last week, the president and the speaker boehner may have been moving in the same direction, but then speaker boehner said we cannot support anything that looks like a tax increase. and so the president addressed that in his conversation today, and he said that any tax brea increases would not take effect immediately. >> when
says a smaller package of about $2 trillion is more realistic. >> yes it's a big package will require big tax increases. it's a job killer. >> when asked whether or not he thought that they could reach a deal in the next 10 days, the president said "we have to." his press conference is scheduled for later this morning. reporting live on capitol hill, abc 7 news. >> thanks very much. jim moran wants to hear your ideas on how to reduce the national debt. the northern virginia democrat and the nonpartisan coalition are hosting an event in arlington tonight. participants will look at budget priorities and see how they will be affected by the various proposals. and it is 6:06. we have 73 degrees on this monday. >> and when "good morning washington" returns, albert haynesworth's sexual assault case heads back to court. we'll tell you what's next for the controversial redskins player. plus, safety concerns mount after the casey anthony verdict and sentencing. what's being done at the memorial to the florida mother's young daughter, caylee? >> but
. >>> plus, a warning to parents. backyard trampolines are becoming very popular but they also come with big safety concerns. coming up, one family shares their cautionary story. >>> we're going to meet a newborn so big doctors have already given him a nickname, the moose. at more than 16 pounds, jamichael brown could be the largest baby ever born in texas. everything is bigger in texas. he's going to join us along with his proud parents. >>> let's begin this morning with our top story. the debt ceiling standoff in washington. kristen, good morning. >> good morning to you, ann. president obama met with congressional leaders on sunday to try to get a deal done. that didn't happen. in fact, one official with knowledge of the discussion tells me it was a bit tense. lawmakers are hoping to get a deal done within the next ten days so it can be processed by that august 2nd deadline. their ties were off but the heat was on as the president and congressional leaders met sunday for a second time in less than a week to try to salvage the deal to raise the debt limit. when a reporter asked if a deal co
'll keep a close eye on baby jamichael, a big kid. that's it for me on "wake-up call." "american morning" begins right now. >> good morning to you. i'm kiran chetry. a lot going on. let's get you caught up. the end of the line for the "news of the world." the british tabloid shutting down after sunday's edition after new reports that the paper reportedly tried to hack the phones of 9/11 victims. >>> a deal to raise america's debt ceiling still out of reach. talks continue today with the president warning we have ten days left to get an agreement or risk default on this "american morning." >>> and good monday morning to you. start of another week here on "american morning." it is july 11th. nice to see you back. >> great to see you. >> the shuttle went off on the first try. >> i couldn't believe it. we were all thinking the weather was horrible but it went off. can't get the three of us together a whole lot. christine is off. >> summer vacation. >> no deal on raising the debt ceiling. last night talks at the white house fizzled out. president obama making it clear with 23 days to go befor
in upstate new york for the holiday. it was not a big political thing. it was a holiday. we were just going to go and sing sing christmas carols, do some rap songs, whether we could do to cheer up the brothers that were locked up. we started to do it over and over again. it was only 10 years later and that we began to see ways to use that in a more pro-active way. we would come out of a nightclub in new york city, my brother, my cousin, and i. we had had some experience with the police harassing us on the streets. this particular night, somebody had gotten into a fight, we were probably the only black folks in a white neighborhood the party that they were at, they were playing salsa, marvin gaye, and we were hanging out after the birthday party. we got caught up in a situation where the police had been called for shots fired. we happened to be the only black people there, they got us and put us in jail. that was the first day that you mentioned. the long and short of it is, i was in my second year of law school at the time. i am reading all these things about criminal procedure, criminal la
this big deal, takeover bid by rupert murdoch of british sky here. people don't want to see that deal go through, kyra. >> we'll continue to follow that story. i have a feeling a lot more is going to break, it's just starting to unfold. zain, thanks. >>> trying to broker a deal. in less than two hours from now, he will turn to the public with a news conference. dei dan lothian joins us from the white house. >> reporter: medicare and social security they don't want touched by this deal and on the other side, republicans are saying no tax hikes at all. you're seeing the president using his bully pulpit, if you will, for the second time now in as many weeks, the president holding a press conference, a chance to try to get both sides to sit down and hammer out an agreement and spell out what the consequences will be if that debt ceiling isn't raised by august 2nd. the president, aides tell me, will continue to push for what's being called that bigger deal, up to $4 trillion in spending cuts and also tax hikes. the reason for that is because the president believes that this is the best thing
.5 trillion does not make any of the big issues go away. sooner or later republicans are going to have to swallow some revenue increases. host: what is the purpose of today's news conference from the president? caller: the purpose for the president is to set a delicate balance. on the one hand he wants to claim the political high ground, i assume, saying that he tried and pushed for historic bipartisan achievement. unfortunately, we will like it there. the reason is that republicans will not sign on to a bold, $1 trillion tax overhaul. so, he wants to show the voters that he is the big negotiator. everything that he said the revlon in 2008. but he does not want to poison the well to make these negotiations for the rest of the week. >> what is the main message coming from republicans going into this meeting? >> it would seem that their main message is probably going to stay the same period that we are for a big deal, but not a big tax increase. or any tax increase. once again they will be challenged to expand on this sharp rhetorical edge. id is a distinction without much of a differenc
's still a big divide between the white house and capitol hill over the debt limit. what president obama is demanding from congress until a deal is done. >>> good morning. welcome back to "news 4 today." i'm joe krebs. >> i'm pat lawson muse in for eun yang on this monday morning, july 11th, 2011. and here's a look at the washington skyline. you can see the capitol in the distance and the potomac river. little hazy. going to be hot out there today, tom. >>> indeed, going to be heating up and the humidity has increased. we welcome pat lawson muse. good to have you with us. 76 at reagan national. low 70s at prince george's county and arlington, montgomery, and fairfax counties. weather watchers reporting upper 60s to near 70 in the rural areas of maryland and virginia. right near the bay, it's in the mid- mid-70s there as well as at the atlantic beaches. the yellow zone in western maryland, southern shenandoah valley in west virginia in the mid to upper 60s now. there's the view from space. a mostly clear sky starting off this monday morning. winds shifting into the south and southwest, th
at a sleepover allie rasmus is live with more, including the soda that's becoming a big part of the investigation. >> reporter: we're live in santa rosa. this agency is investigating the 14-year-old's death. now, the four girls at the sleepover, including the victim, said they passed around a soda that taste strange. the sheriff's office determined there was an unknown substance to it. the teens were at a sleepover at a home and all four got sick during the night. they started throwing up after they drank the soda. at first, the parents thought it was food poisoning, but then on sunday, one of them would not wake up. they called paramedics. and they determined she died. the crime investigations unit are looking into the death. a cause of death for that 14- year-old girl has not been determined yet. we've put in requests with sherr 6 investigators to find out -- sherr 6 investigators to find out where they are with the -- with the investigation. back to you. >> thank you. >>> pleasant hill police say they have two men in custody who may have used clone debit cards to rob bay area atms. officers fo
tomorrow night, and that's on big fox. >>shepard: and 23 minutes past 3:00 on wall street, a lot of this is about our debt crisis in the united states and more so in europe where italy has joined "we're in trouble crowd," the markets do not like it and the dow jones industrial average is off considerably 1.4 percent with just about 37 minutes left in the trading day. a major security concern across the river from new york city, at newark, new jersey, at the lebanonty international airport after a crew found a stun gun stuffed in the back pocket of a seat. though discovered the weapon after the jet landed with 96 passengers on the plane were fine and off the plane. and an certify file spokesman says it does not look as if the stun gun was meant to be used in an attack but how did it get past airport security. they were probably very carefully watching out for your 3.2 ounce bottle of conditioner. and now, live from the new york city news room. what are the authorities saying? >>guest: a remarkable story. and the f.b.i. leading the investigation into what does appear to be a fully
of either of our two parties right now. and i think that is the big challenge right now. how do we basically develop a political platform and a mandate to do those four things. >> i would add a couple things. to what tom said which i basically agree with. but first there is a cultural element here. it's not just a problem in washington, it's a pblem in the culture. a nation where people have distrust of authority, don't trust government, unwilling to accept sacrice, feel very threatened, want pore government than they are willing to pay for, and so there has to be a gigantic education campaign to go under that. and then the second thing i would add, and tom talked about a hybrid politics, i uld say we'vead it. and we just have to rediscover it. and i go back perpeally to my hero alex aner hamilton who created this hrid politics it was not -- he got us out of the big government versus small government debat he stood for lited b energetic government to enhance social mobility. so people in the hamiltonian practise decision which include the wig party and the lincoln an republican party at the
, or it comes from the marketing department of a multibillion dollar organization that really has a big financial stake in the future of it's important to remember that books. if someone has a future that completely and 100% is tied up in e-books, they are going to tell you the future in the state of the book is all about e-books your now, in order to try to separate the rhetoric from the reality of simba information on with our parent company, we put together a nationally representative u.s. consumer survey. and we wanted to go to the entire u.s. adult population and basically ask who is buying these things anyway. do you buy e-books? what devices do you, on which do you read? how many books do you buy, and so forth. and over the three-year period we've been collecting this data, we've been collecting at quarterly for our e-book publishing 2011 report, we found about 90% of u.s. adult population hasn't bought a single solitary digital book. not a single e-book. we also found out because we asked questions that print book buyers still outnumber e-book buyers about five to one. and the o
. the president still wants a big plan that would cut the deficit by $4 trillion. twice what republicans proposed. but here's the standoff. while republicans like the idea of cutting hundreds of billions of dollars from medicaid, medicare, and social security, democrats don't. and then republicans refuse the prprident's plan to increase taxes, revenue, by cutting subsidies on oil and gas companies and closing tax loopholes for other businesses. >> to get a big package would require big tax increases. it's a terrible idea. it's a job killer. >> reporter: and of course these talks face the deadline.. august 2nd. when the government will no longer be able to borrow to pay all of its bills. >> no responsible leader would say the united states of america, for the first time in its history, should not pay its bills, meet its obligations. that would be catastrophicor the economy. >> reporter: once again, just the fact that nobody talked about what happened in this hour and a half meeting does not bode well that they made a lot of progress. >>> a plane crash has taken the lives of a florida couple and th
wragge. >> and i'm erica hill. >> big sports news this morning. >> huge. >> you had to see it. everybody is talking about it. women's world cup soccer, after one of the most thrilling goals in the history of soccer, male or female. ali creager here. >> they tie it up. >> at that point, everyone is saying to themselves, lights out. it's over. then it comes to the shootout. they take it 5-3 over brazil. now they're in the semi finals. >> they'll meet france on wednesday. just fantastic to watch. i love watching the players, how excited they are. no joke, of course, when it comes to soccer. >> this came 12 years to the day after they won the world cup. >> is that when that happened? >> when the whole shirt came off. do you remember that? >> i do. >>> first we're going to touch on, yes, the debt ceiling. the deadline is looming for raising the federal debt ceiling. there were more talks at the white house sunday. still no resolution. president obama has told lawmakers, be prepared to meet again today and every day until a deal is reached. cbs news senior white house correspondent bill plante
for a big deal on the debt ceiling. meeting with congressional leaders and calling for more talks on monday with a presidential news conference ahead of it. >>> meanwhile, as you see from live pictures from new york the debt clock keeps on ticking. also inflammatory words put on paper in the form of a pledge about slavery, black children, and president obama has two presidential contenders backtracking tonight. what did they mean? >>> and the british invasion. william and kate's whirlwind trip through california. cnn traveled with the royals. one stop included l.a.'s skid row. sp and -- >> as far as i'm concerned betty ford saved my life. i went in for cocaine addiction. >> the first lady who helped save the lives of some of the most famous people in the world by turning her struggle into triumph. tonight we remember betty ford who changed the way we all view addiction and recovery. >>> good evening. i'm don lemon. the debt clock just keeps ticking up. a startling reminder of just what a dire situation we are in when it comes to ongoing deficit negotiations. unless congress raises the amoun
especially in chicago and detroit. the big culprit. thunderstorms. major delays possibly other an hour. flight delays. that is not flight congestion. that is flight constipation. that is horrible. backups in miami and tampa. >>> meanwhile, again, the heat will continue through much of the nation's midsection all the way up in parts of the central plains, northern plains. scattered storms across the four corners after it gives a few delays in parts of the southeast as well. ali, let's pitch it right back to you. >> reynolds, thank you so much. good to see you. >>> i want to bring you up to speed on the movie "transformers." "transformers" continues to crush the box office competition. see how it stacks up against its competition when we come back. couldn't resist making this the quote of the day. guess who said this, quote, didn't resist arrest. i'm in a neck brace. how am i going to resist arrest? i'll tell you right after the break. ♪ [ doug ] i got to figure this out. i want to focus on innovation. but my data is doubling. my servers are maxed out. i need to think about something e
something big. >> reporter: the president said he understands boehner's control of the republican house is limited. >> i think he's a good man who wants to do right by the country. i think that it's a... as chip alluded to, the politics a that swept him into the speakership were good for a midterm election they're tough for governing. >> reporter: but it's time, the president said to put politics aside and make some tough decisions. >> it's not going to get easier, it's going to get harder. so we might as well do it now. pull off the band-aid. eat our peas. >> reporter: scott, the president said that failure to reach a deal could lead to another recession that could be so deep that millions more americans could lose their jobs. >> pelley: chip, stay with us as we go over to nancy cordes on capitol hill. nancy, john boehner, the republican speaker of the house, pushed back today. >> reporter: scott, speaker boehner was not swayed by the president's call for a compromise on taxes. >> the american people understand that tax hikes destroy jobs. the last thing we should be doing right now at
connell blamed the breakdown on the white h insistence on new tax revenue. >> to get a big package would require big tax increases in the middle of an economic situation that's extraordinarily difficult ment. shannon box it's a terrible idea. it's a job killer. >> reporter: democratic congressman hollen said republicans were at fault for refusing to budge on new revenue. >> at the end of the day, what we're seeing is that the priority of our republican colleagues is not to get a deficit reduction deal; it's to protect special interest tax breaks for big corporations. after a meeting the leaders left the white house without appearing before waiting reporters, sources tell cbs news they will meet again tomorrow with the president as time continues to run out. >> i do believe that -- this week and certainly by the end of next week we have to have agreement on the outlines of a package. it has to be clear that the leadership has found a way to solve this and they have a path to get votes for something. >> reporter: the president went into tonight's meeting ready to push for his grand bargain, the $4
with it, instead pushing for smaller $2 trillion measure. >> a big package would require big tax increases in the middle of an economic situation that's extraordinarily difficult with 9.2% unemployment. we think it's a terrible idea. it's a job killer. >> reporter: even some democrats are raising concerns about the president's plan especially cuts to medicare and other social services. >> we said we're not going to end to medicare guarantee. >> reporter: president obama scheduled a news conference this morning before the news conference this morning. >> the president made it clear he's willing to do very difficult things for him, for his party but the republicans have to do some things, too. >> reporter: if a deal to raise the debt ceiling is not approved by august 2nd, the treasury department says the government will run out of money to pay its bills and the new head of the international monetary fund warns the impact could be felt worldwide. >> interest hikes, stock markets taking a huge hit and real nasty consequences. >> reporter: as negotiations drag on, credit agencies are threatenin
the debt ceiling and republicans are saying that there's not just enough time to work out a big deal. there's a heightened sense of urgency in washington to come up with a deal to raise the nation's credit limit. lawmakers are at a standoff over how to tackle the deficit and prevent the nation from defaulting on it debt. the major sticking point- taxes. president obama would cut the deficit by $4 trillion. to do that the president and the democrats are call for some tax increases. by closing tax loopholes for some businesses. a nonstarter for republicans. >> we're not going to raise taxes in the middle of this horrible economic situation. >> reporter: president obama told lawmakers last night he's prepared to put social security on the table but some democratic lawmakers say no way. >> house democrats aren't supporting any cuts or benefits for social security or medicare. >> reporter: warning of dire consequences of what would happen if it reaches the debt ceiling. president obama will hold a press conference later this morning and will once again meet with congressional leaders. officials
and applause] we'll be right back. big deal days are back and better than ever! right now, go to priceline for a sneak peek at recent winning hotel bids to find where you can save up to 60% on hotels. we'll even email you other people's winning bids, so you'll know what price to name. with new hotel bid alerts, from priceline. >> welcome back. my guest tonight, very funny comedian. his show fx's "louis." thank goodness it's back for another season. >> it's a mother dog. it's a mother dog like 14-nipple belly. that's what happens if i go like this. it's happening now, you just can't see it. it's a six pack for a whole other reason. it just hangs in sections. it actually is three sections with a split in the middle. >> jon: please welcome back to the show "louis"ck. [cheering and applause] >> that was really funny. >> jon: great to see you. >> thank you. [cheering and applause] >> jon: i'm so glad the show is back on. >> thank you >> jon: you want to do it again? >> i don't want to shake. i just want us to hoover. >> jon: do the hover shake. first episode was so good. >> thank you. jon and y
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